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The UK Soup Market: What Consumers Eat and Why?

  • October 2013
  • -
  • GlobalData
  • -
  • 74 pages

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Product Synopsis

This report provides the results for the Soup market in UK from Canadean’s unique, highly detailed study of consumers’ Consumer Packaged Goods (CPG) consumption habits, and forms part of an overall series covering all CPG product markets. Its coverage includes, but is not limited to, consumption behaviors, the extent to which consumer trends influence their consumption, the value of the market these trends influence, and brand and private label choices as well as retailer choices. Much of this information can also be analyzed by specific consumer groups, providing hard and fast data on consumers and markets at the product category level.

Introduction and Landscape

Why was the report written?
Marketers in the Soup market face a major challenge. Understanding market size and segmentation is valuable, but the key to effective targeting is knowing just how valuable specific consumer groups are, and being able to quantify the impact of consumer trends. This data report solves these problems by providing survey-based data on consumer trends and consumer groups, and market data that shows the exact size of consumer groups, how much of the Soup market they account for, and which consumer trends drive their behavior.

What is the current market landscape and what is changing?
Low consumer confidence in the UK has affected consumption of most CPG products, including Soup. Since the global financial crisis of 2008–2009 the retail market has been characterized by an increase in the amount of discounted and own-brand products. However, the improving economy may tempt consumers who reduced their consumption while times were tough back to brands. This makes it essential to know where the pockets of growth may be and the trends that shape consumption patterns.

What are the key drivers behind recent market changes?
Consumers’ uptake of products and the influence of consumer trends are fundamental causes of change in markets – making knowing what these trends are and the extent of their influence crucial. The survey-based data provided in this report examines over 20 consumer trends that affect the market and examines the share of consumption across 26 consumer groups. This data provides a detailed insight into exactly who the consumer is and just how much impact the latest consumer trends are having.

What makes this report unique and essential to read?
The data provided is unique in the market as it tracks consumer behavior through to its actual value impact on a product market. This provides readers with a unique data analysis of the market, allowing marketing tactics and strategy to be updated in line with the very latest consumer behaviors.

Key Features and Benefits

Consumer data, based upon proprietary surveys and then consumer group tracking and modeling for the following specific categories: Canned/Ambient Soup, Chilled Soup, Dried Soup (mixes), and UHT Soup.

Detailed consumer segmentation covering over 26 consumer groups, 20 consumer trends, and consumption frequency for each product category.

Consumer penetration for brands and private labels, based upon the original survey and then subsequent consumer tracking and modeling.

Unique retailer choice data at the product category level, based upon the original survey and then subsequent consumer tracking and modeling.

Key Market Issues

Chilled Soup consumption is highest among Older Young Adults, who value the quality and easy preparation of these products and have the disposable income to afford them. Within the age group, 7% of consumers recorded Heavy frequency consumption, 15% Medium frequency consumption, and 28% Light frequency consumption.

The Soup market in the UK is dominated by the Canned/Ambient Soup category, which constitutes56% of the overall market by value. Frozen Soup is the least valuable category, with a market share of 0%, only marginally lower than the UHT Soup category.

A significant “attitude-behavior” gap exists between the share of consumers citing that a trend affects their consumption and the actual share of the market value these trends influence. For instance, 21% of Canned/Ambient Soup consumers claim that Busy Lives is a trend that influences their consumption, yet this trend only affects 12% of the market value. This is because consumers don’t always act on these trends – the result is that overall trend influence is limited, but has the potential to grow.

Key Highlights

Older Consumers have a 31% value share of the total Soup market in the UK. This market leading position is achieved through sheer weight of numbers as Older Consumers account for 29% of the population. The fact no age group consumes disproportionately to its size means marketers need to differentiate their products to target different consumer groups in order to maximize their revenues.

The three largest retailers in the UK dominate the Soup market with combined volume share of 75%. It is therefore essential for new entrants to establish strong relationships with these three retailers.

Private label penetration is over twice as high in Frozen Soup as in other categories, where penetration ranges between 20% and 30% of the volume of products distributed. These other markets are relatively fragmented apart from the market leaders in a couple of categories, and therefore retailers should be able to grow their market share by targeting the weaker brands.

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